Fusion Fuel Green PLC, the Nasdaq-listed energy-engineering company, said on June 24 that its majority-owned subsidiary Al Shola Al Modea Gas Distribution LLC (Al Shola Gas) has landed AED4.4 mn ($1.2 mn) in new engineering projects in Dubai. These awards complement more than $2.7 mn in contracts announced on May 22 and lift the total secured since the start of the year to roughly $3.9 mn. The new mandates cover four residential and commercial developments located in several key districts of the city. All will carry long-term utility service agreements, ensuring a swift conversion of engineering revenue into recurring cash flows.
Diversity of sites and contract values
The largest project involves a thirteen-storey block in Satwa valued at AED2.6 mn ($0.71 mn) that will supply liquefied petroleum gas (LPG) to 240 apartments. At Dubai Marina, a design, build, operate and maintain (DBOM) contract will cover 620 homes and five retail units for AED885,000 ($0.24 mn). In Business Bay, a thirty-two-storey tower with 242 apartments and three outlets is priced at AED395,000 ($0.11 mn). Four smaller projects across the emirate total AED520,000 ($0.14 mn) and complete the portfolio.
Each contract includes the supply, installation and certification of LPG networks compliant with Dubai Civil Defence Authority standards, allowing commissioning with no extra cost to developers. Because the delivered systems feed straight into Al Shola Gas’s internal billing model, the subsidiary converts each site into a revenue-generating asset from first use. The DBOM model transfers maintenance, compliance and upgrades to the operator, locking in the economic life of the installations. The approach, already proven in more than 12,000 existing units, boosts profitability and enhances revenue visibility.
Utility portfolio growth
Al Shola Gas’s active customer base now exceeds 12,000 meters, a threshold passed in the first quarter and driven by activation of several hundred units each month. Bulk LPG supply remains above 600 t per month, with organic growth of ten to twenty tonnes monthly. The firm aims to reach 800 t by year-end thanks to extra logistics capacity and the retrofit of an existing terminal. This expansion supports a revenue mix in which high-margin recurring income clearly outweighs one-off engineering fees.
High-density developments continue to drive Dubai’s energy market, where population growth and an increase in luxury residences stimulate demand for centralised LPG solutions. Developers prefer providers able to manage design, regulatory compliance and operation to limit operational risks. The introduction of stricter safety rules, notably mandatory detection and automatic shut-off systems, heightens the value of integrated contractors. By aligning its services with these requirements, Al Shola Gas consolidates its position against a fragmented field of smaller specialist operators.
Operator outlook
“The combination of engineering fees and high-margin utility income embodies our strategy to build durable, cash-generating assets in the region,” said Fusion Fuel Chief Executive Officer John-Paul Backwell. He noted that visibility on the order book already allows planning of new logistics investments to support rising deliveries. Executives did not disclose margin details but said the subsidiary’s operating profitability improves as the subscriber base expands. The company plans to provide quantified guidance once the 800 t monthly mark is reached.
